CAP Business Clubs blog page

It is often (some might say too often) claimed that women are able to multi-task much better than their male counterparts. This may well be true, but in today’s society which features many varied challenges and countless devices to attach to, the male of the species may be catching up.

Anyway, I digress. I really wanted to share with you the experiences that a humble Insurance Broker faces behind the scenes…

Even before the telephone receiver has been replaced in its cradle, or before I’ve left a client’s premises after a meeting, a plan is formulating in my mind on how to approach the challenge of providing a suitable policy (or an entire insurance programme) to meet that client’s specific needs. In fact with the more complex cases, I will have already undertaken a number of enquiries before gathering the specific risk detail, to prepare myself appropriately.

With my presentation to Underwriters prepared, I may have gathered claims experience from the present or previous insurers, obtained a survey report, or a flood questionnaire (particularly relevant in Gloucestershire and Herefordshire), I then begin the task of “sounding out” Underwriters who might be interested in offering terms (i.e a quotation) for the particular case. I’ll then monitor this to ensure each insurer is working to my deadline and feedback any additional pieces of information which may assist in the assessment of risk.

So why Spinning Plates? Simply because this process is going on for dozens of my clients and prospective clients simultaneously, as well as responding to Insurer queries, accounting issues, payment matters, client questions, internal queries and referrals – and all in a manner which is compliant with the various Regulations which govern the way in which I and my firm operates. For instance, we can no longer take details of a risk on the back of a cigarette packet and present to the client on a piece of paper which is hardly larger than A5!

In addition to this, I have to demonstrate to my professional body and my employer that I am competent in the areas in which I conduct business. Undertaking regular study, assessment, reading of trade publications, e-learning modules, insurance seminars, regulatory lectures all find the time to fit into my diary.

Professionally as well as personally, the concept of Spinning Plates is constantly a part of how I live. I thrive on being busy, with many varied, interesting, testing challenges and tasks on-going at any one time. The idea that a plate might fall, keeps me on my toes, ensuring that I give everything the greatest attention that I can.

Yes, occasionally one plate might appear to be perilously close to falling to the ground, but as an Insurance bod, I have always risk-assessed the situation prior to the launch of that activity…